Empower signs contract to supply 30,000 RT of district cooling to wasl1 development
DUBAI, UAE, 26 January 2021: Emirates Central Cooling Systems Corporation (Empower), announced that it has signed an agreement with Dubai-based Wasl Asset Management Group, one of the largest real estate development and management companies in Dubai, to supply its mixed-use development, wasl1, with 30,000 Refrigeration Tons of district cooling.
Currently being carried out in several phases, the project is located in proximity to Dubai’s arterial Sheikh Zayed Road and Al Jafiliya Metro Station, with views of Zabeel Park. wasl1 will eventually feature 13 residential towers, of which the first phase, Park Gate Residences – comprising four towers and consisting of 746 residential units – has been completed and handed over. wasl1 will also include a range of entertainment facilities, children’s play areas, fully equipped gymnasiums, a multi-purpose hall, and a number of retail stores, restaurants and cafes.
In his comments, H.E. Hesham Al Qassim, CEO, Wasl Asset Management Group, said: “We chose Empower based on its tremendous capabilities in providing district cooling services, and we believe that its efficacy will contribute to strengthening the distinctive wasl1 project. The company’s advanced technologies support our mandate to contribute to the sustainable development of the emirate, while also ensuring the provision of the best cooling services to tenants, effectively enhancing the unique characteristics of wasl1 as a luxury residential project.”
According to Empower, providing a project of such magnitude with green district cooling services has prompted the corporation to direct AED 210 million in investments to finance the construction of seven energy transmission and storage stations (ETS), and to connect the project to the new district cooling plant that is currently underway in the Zabeel area. This, Empower said, would require the building of a subway under Sheikh Zayed Road, in addition to the expansion of the district cooling network.
Empower also said that the wasl1 project will be provided with district cooling services in a number of phases. By mid-2021, the first phase is expected to be completed, which would enable it to provide 3,351 RT of cooling and up to the total capacity of 30,000 RT – equivalent to half of the production of the new Zabeel plant, Empower said. Subsequently, the district cooling plant in the Dubai Financial Centre, currently under operation, will be connected to the new Zabeel plant, with a total load of 112,000 RT, Empower added. This comes in the framework of a proactive plan it has established to meet the needs of the existing as well as of the upcoming mega development projects launched in this vital area of Dubai, Empower further added.
Ahmad Bin Shafar, CEO, Empower, said: “We are working hard to serve the pioneering real estate projects, and we aim to provide all residential, commercial and entertainment facilities and sectors in the emirate of Dubai with district cooling services of sustainable international standards. This emphasizes the pioneering role Dubai plays with regards to reducing carbon emissions, which comes in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him.”
Bin Shafar pointed out that adding the wasl1 project to Empower’s portfolio reflects the confidence real estate developers and dealers have in the reliable services it provides. He added that the association with the project also enhances its role in providing more quality cooling services with 50% less energy consumption, compared to the currently used traditional refrigeration services.
Empower reveals AED 901 million net profit in 2020
According to Empower, performance in a nutshell
- Total cooling capacity crossed 1,640,000 RT, maintaining the position of the largest district cooling provider in the world
- Over 140,000 customers
- Total energy saving AED 3.4 billion in 2020
- A total of 350.474 kilometres of district cooling networks
DUBAI, UAE, 20 January 2020: Emirates Central Cooling Systems Corporation (Empower) reported a net profit of AED 901 million, with a total revenue of AED 2.26 billion in 2020. Making the announcement through a Press release, Empower said its revenues grew by three per cent, with a net profit increase of 3.4% year-over-year (YoY). Empower added that the performance has been commendable, given the difficult economic conditions resulting from the global pandemic.
Commenting on Empower’s financial results at the annual press conference, Ahmad Bin Shafar, CEO, Empower, said: “2020 has been another successful year for Empower, with growth in its financial as well as operational performance, which is clearly evident from increase in revenues and net profit, additions in the number of district cooling plants, expansion of district cooling pipeline network, increase in customer base and the number of buildings connected with our district cooling services.”
According to Empower, the number of buildings it provides with its district cooling services exceeded 1,252, and the customer base has reached more than 140,000. The total cooling capacity has reached 1,640,000 Refrigeration Tons (RT) during 2020 that covered various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, Dubai International Financial Centre, Business Bay, Dubai Healthcare City, Jumeirah Lake Towers, Palm Jumeirah, Discovery Gardens, Ibn Battuta Mall, Dubai Design District and International Media Production Zone, amongst others, the utility said.
“Empower has also saved a total of 1,312 MW of electricity worth AED 3.4 billion, as of the end of 2020,” Bin Shafar said.
On the sidelines of the press conference, Bin Shafar also said: “We are proud of our achievements in terms of increased number of district cooling plants that has reached 84 plants across Dubai, including the world’s first unmanned district cooling plant in Jumeirah Village Circle project, along with having the largest district cooling network.
“Empower is committed towards efficient utilization of energy resources and supporting its customers and real estate developers, by providing high-quality and eco-friendly district cooling services.”
Bin Shafar also stated that Empower had reduced its fuel surcharge rates by approximately 25%, effective December 1, 2020, in line with the initiative of the Dubai’s Supreme Council of Energy.
He added: “We will continue our endeavors in 2021 to increase the number of district cooling plants and expand our district cooling network across Dubai.”